Everything that has happened to money was done to it by government, beginning with the deceptive separation of people from their own gold, then a confiscation of the gold, then making it a crime for a private citizen to own gold, together with a law forbidding contracts to be made in any kind of money but irredeemable paper currency, and finally the dishonorable repudiation of the promissory words engraved on its bonds. All of this with an air of leave-these-things-to-the-wisdom-of-the-government, as if people could not understand the mysteries of money. That was absurd. The controlling facts about money are not mysterious. By contrast, in 1896, there was a very grave monetary question to be settled. It was silver versus gold; or inflation versus sound money. It was taken to the people, and the people, not the government decided it. The people voted for sound money.About the Author:
Garet Garrett was born in Illinois in 1878. When he was twenty-five he was star writer for the old New York Sun. Thirteen years later he was executive editor of the New York Tribune, having been in the meanwhile financial writer with the New York Times, the Evening Post and Wall Street Journal, and editor of the New York Time Annalist. At thirty-eight he retired from newspaper work to devote himself to free-lance writing. Between 1920 and 1932 he published eight books and a number of widely circulated articles on financial and economic matters. With the advent of the New Deal he vigorously attacked its neo-Marxian premises and its economic fallacies in a series of articles that appeared in the Saturday Evening Post. His writing there created much bitter controversy and caused the New Deal to threaten the life of that magazine. In 1940 he became editorial-writer-in-chief of the Saturday Evening Post, after the death of its famous editor, George Horace Lorimer. In 1944 he wrote the notable political monograph entitled The Revolution Was, which went through many editions. This was followed in 1951 by ExAmerica and in 1952 by The Rise of Empire. These three essays, taken serially, give a dramatic account of what has happened in this country during the last twenty years - to the spirit, to the mind, and to the social environment of a people who after a century and a half of being wonderfully free began to ask, "What is freedom?" Mr. Garrett has recently retired to a cave on a river bank at Tuckahoe, New Jersey, where he lives very quietly with his wife, still making notes and comments on the passing show of monstrous human folly. He has just finished a book entitled The Wild Wheel, the theme of which is the death of Henry Ford's world of laissez-faire. Mr. Garrett died in 1954. The above page of biographical notes appeared on the jacket of the first edition of The People's Pottage in 1953.
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